Carlsquare advises AFINUM in acquiring an interest in the shoe retailer Görtz
15 Apr 2014
AFINUM acquires a minority interest in the long-established Hamburg-based shoe retailer Görtz by a capital increase. AFINUM ensures the continuation of Görtz’ success story that has been going on for more than 100 years.
The AF Eigenkapitalfonds für deutschen Mittelstand GmbH & Co. KG, München, (AFINUM), advised by AFINUM Management GmbH, acquires an interest in Ludwig Görtz GmbH (Görtz) as a strategic partner. AFINUM acquires 40 percent of the Hamburg-based company. The objective is to establish a strong and long-standing partnership and to facilitate the growth and the expansion of the multichannel strategy of Görtz. The transaction will be completed, subject to the consent of the relevant authorities, by the end of May at the latest.
The company Görtz with headquarters in Hamburg, approx. 3,200 employees and about 170 branches in Germany and various e-commerce channels, is the qualitative market leader. With targeted investments in the expansion of the branch network and a stronger cross-linking of online and stationary sales, Görtz wants to continue further establishing this successful position.
Ludwig Görtz, co-partner and chairman of the board, comments on the transaction: “AFINUM is an experienced and strongly positioned partner, who does not only understand the established brand philosophy and the business model, but also appreciates it. We are looking forward to leading the company together with our employees into a successful future.”
AFINUM: “Görtz is an established company with a strong brand, a high level of customer loyalty and excellent employees. We would like to contribute to a growth of business that corresponds with the tradition, standard and vision of the future of this company.”
Carlsquare has initiated the transaction and advised AFINUM during the process.
AFINUM is an independent, management-owned investment company with offices in Munich, Zurich, Vienna and Hongkong, with a focus on investments in successful SMEs in German-speaking Europe.
Founded in 1875 in Hamburg, Görtz is today on of the biggest shoe retailer with 170 branches in Germany. With the four sales brands Görtz, Görtz 17, Görtz Shoes and Hess, the Ludwig Görtz GmbH can attune to the individual requests of the clients. The range of products includes women’s, men’s and children’s shoes.
Carlsquare and the international M&A network Globalscope offer integrated cross-border M&A consulting services for medium-sized transactions. Carlsquare – a partner led corporate finance firm – advises businesses and shareholders to realise their strategic objectives ensuring the highest level of quality. Carlsquare is managed by three partners and is based in Hamburg and Munich with 16 employees. Globalscope has 32 members in 26 countries with more than 300 professionals worldwide.
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